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Is Summer The Time To Purchase A Home?

June 24, 2012, 10:39 PM by Lindsey Branwall

Is Summer The Time To Purchase A Home?
SIOUX FALLS, SD -

New home sales dropped 1.5 percent across the country in May. Despite reports that prices will go up the rest of the year, interest rates remain low.  But take a South Dakota open house tour and you'll notice the number of shoes at each doormat are up.

But the price of homes is also expected to rise.

"We have seen the prices come up some, but they're certainly not where they were four or five years ago," Real Estate Agent Sharen Harms said.

One report expects costs to rise two percent over the next six months. Real estate company owner Jim Costello feels any changes won't sway local homebuyers. 

"If the prices go up one to two percent or even five percent or even if they remain stable that will affect the buyers that are out looking," Costello said.

"In the summertime the prices will stay the same but activity will be going [up] much more. I've already seem a few families today," Broker Associate Les Pietruszkiewocz said.

Terry Nielan is one of them. He brought half of his family to an open house along 26th Street.

"We need at least three plus bedrooms, two plus bathrooms because as these two get older it's gonna be more.  So we're looking for size," Nielan said.

Nielan's also looking to find the family a home for next school year. Harms agrees with the summertime trend.

"Activity has picked up significantly since probably early March because of our favorable spring," Harms said.

Twenty-two people stopped by the open house in just an hour and a half. She hopes to get an offer by tomorrow.  But whether it's the weather or numbers, summer buying season is in full swing

Realtors were happy to give out a few tips for those buying or selling a home. Some of the big ones were to get finances in order and do plenty of research, but mostly keep an open mind and look at a variety of homes.

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